Single Story Office Building | memorandum€¦ · 614 ren hurma ay Suit 40 a egas n 9148 70 6 30 h...

Single Story Office Building | offering memorandum1500 E. Sahara Avenue, Las Vegas, NV 89104

Linda [email protected] Lic # BS.0049667.LLC

Adam Drake, MBA, [email protected] Lic # S.0185306.LLC

www.SunCommercialRE.com6140 Brent Thurman Way, Suite 140, Las Vegas, NV 89148702 | 968 | 7300 Ph702 | 968 | 7301 Fax

1500 E. Sahara Avenue - Offering Memorandum | 2

CONFIDENTIALITY & DISCLOSURE

SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

LINDA GONZALESVice [email protected] LIC # BS.0049667.LLC

ADAM DRAKE, MBA, [email protected] LIC # S.0185306.LLC

The information contained herein was obtained from sources believed reliable, however, Sun Commercial Real Estate, Inc. any of its agents or employees make no guaranty, warranty or representation as to the completeness and/or accuracy thereof, inclusive of any current and future projected returns. Anyone utilizing this analysis does so at their own risk and agrees to hold Sun Commercial Real Estate, Inc., its agents and employees harmless. The presentation of this property is subject to error, omissions change of price or conditions prior to sale, or withdrawal without notice.


TABLE OF CONTENTS

Offering HighlightsProperty PhotosFloor PlanOpportunity ZoneAssessor Parcel MapSurrounding Aerial

Opportunity ZoneArea Demographics

Market Overview Section 2

Property Overview Section 1


Asking Price:

Zoning:

Total Building Area:

Site Size:

$765,000 ($121 PSF)

±6,317 SF

±0.37 Acres

Limited Commercial District (C-1)

On E. Sahara Ave., E. of Maryland Pwy. - ± 49,000 CPDOn Maryland Pwy., N. of E. Sahara Ave. - ± 35,973 CPD

Year Built:

APN:

Traffic Counts:

1965

162-02-410-140

SUMMARY

OFFERING HIGHLIGHTS

OFFERING

Sun Commercial Real Estate, Inc. is pleased to exclusively market the opportunity to purchase 1500 E. Sahara Avenue. The Property is a single-story ±6,317 square foot office building with frontage on E. Sahara Avenue. The property is currently partially occupied (tenants on short-term leases) for immediate cashflow. Perfect as a value-add investment or for an owner/user and is located in an Opportunity Zone.

HIGHLIGHTS

• Excellent frontage on E. Sahara Avenue• Located in the Opportunity Zone• ±26,075 in population (within 1 mile)• Future Billboard income opportunity• Zoned C-1• Within close proximity to Las Vegas Convention Center, Sunrise

Hospital and Medical Center, Commercial Center District and The Las Vegas Country Club

• Ample parking - 1.62/1,000• Seller Financing Available

PROPERTY LOCATION

The Property is located on the Northwest corner of E. Sahara Avenue and S. 15th Street with frontage on E. Sahara Avenue. Within approximately a mile radius is the Las Vegas Convention Center, Sunrise Hospital Medical Center (Las Vegas’ largest acute care facility), The Historic Commercial Center District and The Las Vegas Country Club. Within a 3 mile radius is a population of 187,272, 71,715 households and 12,217 total businesses.

PROPERTY DESCRIPTION

The Property consists of a single story office building totaling ±6,317 square feet. The Property is situated on 0.37 acres and zoned C-1 and has direct street frontage offering building signage and high traffic counts.


PROPERTY PHOTOS


FLOOR PLAN

Kitchen

• ±6,317 SF

• ±25 interior suites, perfect for executive suites or an owner/user

Floor plan and square footage are approximate and may not be to scale.


SURROUNDING AERIAL

MARYLAND PKWY

LAS VEGAS STRIP

STRATOSPHERE

E. SA

HARA AVE

±316,000 CPD

E. KAREN AVE

SAHARA TOWN SQUARE

SUBJECT PROPERTY

E. S

T. L

OU

IS A

VE

MARYLAND PKWY

PARADISE RD

COMMERCIAL CENTER DISTRICT


OPPORTUNITY ZONE

WHAT IS THE OPPORTUNITY ZONE

The Opportunity Zones program offers tax benefits for investing in low-income communities through a qualified Opportunity Fund:

1. A temporary deferral of inclusion in taxable income for capital gains reinvested in an Opportunity Fund. The deferred gain must be recognized on the earlier of the date on which the opportunity zone investment is disposed of or December 31, 2026.

2. This program applies to any capital gain from the sale or exchange of any property to an unrelated person.

3. There is a step-up in basis for capital gains reinvested in an Opportunity Fund. The basis is increased by 10% if the investment in the Opportunity Fund is held by the taxpayer for at least 5 years and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation.

4. The Program offers a permanent exclusion from taxable income of appreciation above an investor’s original investment from the sale or exchange of an investment in an Opportunity Fund if the investment is held for at least 10 years. This exclusion only applies to gains accrued after an investment in an Opportunity Fund.

Once certified by the Secretary of Treasury, an Opportunity Zone designation lasts until December 31, 2026.

5

160

LAS VEGAS

HENDERSON

160

PAHRUMP6140 Brent Thurman Way, Suite 140

Las Vegas, Nevada 89148702-968-7300 Ph | 702-968-7301 Fax

SOUTHERN NEVADAOPPORTUNITY ZONESThe Opportunity Zone program, established in The Tax Cuts and Jobs Act of 2017, is a tax incentive, designed to encourage long-term private investment in low-income communities.

NEVADA

© 2019 Sun Commercial Real Estate, Inc. All rights reserved. Information provided by diversifynevada.com

1500 E. Sahara AvenueAPN 162-02-410-140±6,317 SF Office Building

http://www.diversifynevada.com/programs/opportunity-zones/

It is very important to consult with your tax attorney or CPA to learn more about Opportunity Funds and their benefits.


AREA DEMOGRAPHICS (3 MILE RADIUS)7/31/2019 Business Analyst

https://bao.arcgis.com/esriBAO/index.html# 2/4

KEY FACTS

187,272Population

38.12018 Median Age (Esri)

2.48Average Household Size

$52,587Average Household Income

EDUCATION

24%

No HighSchool

Diploma 33%High School

Graduate

26%Some College 17%

Bachelor's/Grad/ProfDegree

BUSINESS

12,217Total Businesses

227,904Total Employees

EMPLOYMENT

42%White Collar

21%Blue Collar

37%Services

7.5%

UnemploymentRate

INCOME

$34,897

Median HouseholdIncome

$20,619

Per Capita Income

$14,477

Median Net Worth

Households By IncomeThe largest group: <$15,000 (22.2%)

The smallest group: $150,000 - $199,999 (2.5%)

Indicator Value Difference<$15,000

$15,000 - $24,999

$25,000 - $34,999

$35,000 - $49,999

$50,000 - $74,999

22.2%

$75,000 - $99,999

14.8%

$100,000 - $149,999

13.1%

$150,000 - $199,999

15.1%

$200,000+

15.1%

+12.3%

7.6%

+6.7%

7.1%

+3.8%

2.5%

+1.4%

2.5%

-4.7%

-6.2%

-7.6%

-3.1%

-2.6%

Bars show deviation from

Clark County

*Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024.


AREA DEMOGRAPHICS (5 MILE RADIUS)7/31/2019 Business Analyst

https://bao.arcgis.com/esriBAO/index.html# 3/4

KEY FACTS

531,155Population

34.92018 Median Age (Esri)

2.82Average Household Size

$53,267Average Household Income

EDUCATION

26%

No HighSchool

Diploma 34%High School

Graduate

26%Some College 14%

Bachelor's/Grad/ProfDegree

BUSINESS

25,718Total Businesses

441,408Total Employees

EMPLOYMENT

40%White Collar

25%Blue Collar

36%Services

6.9%

UnemploymentRate

INCOME

$38,001

Median HouseholdIncome

$18,635

Per Capita Income

$17,359

Median Net Worth

Households By IncomeThe largest group: <$15,000 (18.9%)

The smallest group: $200,000+ (1.9%)

Indicator Value Difference<$15,000

$15,000 - $24,999

$25,000 - $34,999

$35,000 - $49,999

$50,000 - $74,999

18.9%

$75,000 - $99,999

13.6%

$100,000 - $149,999

13.2%

$150,000 - $199,999

16.2%

$200,000+

17.5%

+9.0%

9.0%

+5.5%

7.3%

+3.9%

2.3%

+2.5%

1.9%

-2.3%

-4.8%

-7.4%

-3.3%

-3.2%

Bars show deviation from

Clark County

*Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024.

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